NEW DELHI, NOV 22 – India’s Adani Group has lost an airport and energy expansion project in Kenya after its founder and chairman, Gautam Adani and several other executives were indicted in the United States (US) on charges of corruption and fraud.
Kenyan President William Ruto said the decision to cancel the deal was based on ‘new information provided by our investigative agencies and partner countries.’
Last month, Adani Energy Solutions and Kenya Electricity Transmission Company (Ketraco) signed an agreement to build and manage electricity transmission lines across the East African country in a project estimated to be worth 95.68 billion Kenyan shillings (US$736 million).
Adani Group based in the Indian state of Gujarat is also in the process of signing a contract to build a second runway at Jomo Kenyatta International Airport (JKIA) in Nairobi and modernize the passenger terminal in exchange for the Indian company that has operated the airport for 30 years.
“I have instructed the agencies under the Ministry of Transport and the Ministry of Energy and Petroleum to immediately cancel the ongoing procurement process for the JKIA expansion public-private partnership transaction as well as the newly concluded Ketraco transmission line public-private partnership contract,” Ruto said. in the state of the nation speech. – Named
